- 11,012
- 57,933
Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
-
Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Sanrith Descartes
You have insufficient privileges to reply here.
- 44,495
- 120,674
Tmac
Adventurer
- 9,969
- 16,984
The buy signal is on June 10th ish or the price breakout is on June 10th ish?
I was playing around with MarketWatch and found Bollinger Bands. Apparently, they're SMA's on a % to account for volatility and help predict breakouts.
The first blue circle where the high and low bands are "squeezing" is called consolidation. Consolidation is a signal for a breakout. The red arrow shows the candle breaking above the high and therfore stonks go up. Conversely, if a candle breaks the low at the end of consolidation stonks go down.
The blue arrows show where we are now, and the high and low will have to squeeze pretty rapidly to get to consolidation over the next 10 days. Theoretically, as the high and low signals squeeze, a breakout will occur and we'll know what kind of game we're playing.
It is also preferable to see the upper and lower band starting to widen in a breakout scenario. The widening of the bands suggests an increase in volatility to confirm the move out of a consolidation and into a new trend.
Based on my first chart it looked like we were entering consolidation in the beginning of April, where the candle broke above the high, but then it defintely broke down. So, my guess is that it wasn't a tight enough squeeze to be a true indicator and there was still too much volatility. See below, where the first squeeze shows the correct breakout, and the "second squeeze" which still may be too volatile to be a real squeeze, shows a head fake.
But, again, most recently, we see a squeeze occur, the breakout happen below the low and we see the corresponding downward trend occur.
So, it seems the takeaway is that the more extreme the squeeze, the lower the volatility, and the more reliable the breakout signal becomes. The wider the bands, the more volatility, and therefore the less reliable the breakout.
[edit] Just realized I didn't use candles in several charts. The breakouts are harder to read using lines, so sorry for the lines.
- 2
- 12,704
- 49,337
My bet on the Musk agenda is that he knows he needs to be involved in crypto, and his ego demands he be the most important person in one. BTC already has a God (Satoshi) and a Jesus (Michael Saylor), ETH Already has the same (Both in Vitalik Buterin). So he latched onto Doge since it already had some meme to it (and he loved memes) and had virtual no big driving personality behind it.
In his perfect world he turns Doge into his idea crypto and by that point probably also owns the majority of it.
- 2
- 12,704
- 49,337
If the Hash Ribbons play out as usual the buy signal will be in around 3 days (on the 5th) and the convergence of the lines from this narrowing pendant happens around the 11th. So if it breaks upward I would suspect that happening around the 9th-10th.
Tmac
Adventurer
- 9,969
- 16,984
More Bollinger Bands. ETH looking wildly volatile atm.
Gamestop coming out of consolidation.
AMC to the moon after coming out of consolidation at $10.88 on May 13th.
Muh DOGE still playing off the April squeeze. Lots of volatility atm obviously.
Gamestop coming out of consolidation.
AMC to the moon after coming out of consolidation at $10.88 on May 13th.
Muh DOGE still playing off the April squeeze. Lots of volatility atm obviously.
Last edited:
- 1
- 12,704
- 49,337
Right now.... ETB and BTC are moving with a high degree of synchronicity. OTOH ETH has had a few surges relative to BTC in the past few months.
- 12,704
- 49,337
On the BTC Hourly....
You can see with the BBWP it's now in deep blue, with SMA downtrend from the point it went red. That's a positive in general. It's about to bang into my wedge line of "support/resistance". If it passes that and can re-test it without going below it, I would tentatively say I'm more optimistic.... If it bounces off back into the pendant then we keep trying until we run out of pendant....
You can see with the BBWP it's now in deep blue, with SMA downtrend from the point it went red. That's a positive in general. It's about to bang into my wedge line of "support/resistance". If it passes that and can re-test it without going below it, I would tentatively say I'm more optimistic.... If it bounces off back into the pendant then we keep trying until we run out of pendant....
- 12,704
- 49,337
I'm still holding a bag of that. It's been a solid for me through this correction.
Quickswap runs on Polygon (i.e. MATIC) and here's what they show on their analytics page right now :
Now that is liquidity for all pairs they trade, but I know the MATIC-ETH pair on Quickswap has over $100M in it by itself.
Looking at Coingecko it shows MATIC with an $11b market cap. Tradingview shows that it's volume has been tapered a little, but it's in line proportionally with the market as a whole as of late. Looking at the "real time" trading action on Coinbase Pro it seems to indicate moderately strong volumes on both the buy and sell sides. Admittedly though it seems strange in Crypto to see something trading THIS flat over days like MATIC has as of late. (feels like it's been locked into a +/- 5% range for a long time)
Now, with that said, a couple trades I did on Quickswap yesterday (shuffling stablecoins into DAI) took longer than normal. That being around a 30 second confirmation time rather than the 10-15 seconds I was used to. I did notice that.
On other topics. BTC officially broke up out of my pendant, but I'm staying cautious on it until I see it close a bar or two above 40k.
- 1
Arden
Blackwing Lair Raider
- 2,731
- 2,055
So it sounds to me from what you are saying that there isn't actually a liquidity issue at all, but volume is just fairly flat- i.e. interest in buying or selling has dried up considerably.
- 12,704
- 49,337
Yeah, which makes some sense. In general most of the people I listen to who do analytics are in a "wait and see which way this breaks" mode. And usually that means if you're in something which has been moderately resistant to the worst of the correction (like MATIC and ADA have been for me) you just hodl those up and wait out the storm.... I only recently replaced some positions into ETH when I started feeling more comfy that it was going to uptrend.
Current balance :
My two unstable hot stripper girlfriends right now are Quick and OMG. Quick mostly being because doing LP on Quickswap you get your rewards payout in quick, so I bought a little extra and am playing the MATIC/QUICK LP. My conservative upbringing is starting to fall in love with vaulting stuff on AAVE for lower but seeming consistent returns. (Currently storing some MATIC and DAI there)
- 1
- 2,906
- 7,478
James
Ahn'Qiraj Raider
- 2,804
- 7,056
dizzie
Triggered Happy
- 2,509
- 3,939
You couldn't make this shit up, Norton are adding a fucking miner to their 360 Antivirus suite.
www.bleepingcomputer.com
Norton 360 antivirus now lets you mine Ethereum cryptocurrency
NortonLifelock has added the ability to mine Ethereum cryptocurrency directly within its Norton 360 antivirus program as a way to "protect" users from malicious mining software.
- 2
- 1
